Following the conclusion of the Swell 2018 conference and the diminishing excitement that was revolving around xRapid, Ripple (XRP) has managed to return to the 0.52 US dollar level. According to some experts and analysts, the depreciation of price is seen as a concerted manipulation by the mother company, however, even after its recent surge, Ripple (XRP) still displays limited chances of rising to the 0.76 US dollar mark in the short run.
However, Ripple (XRP) still tops the list of the one of the best performing digital asset in the market in the past month, surging upwards from lows of 0.30 US dollars and managing to maintain parts of the gains. On the other hand, the digital coin was met with a lot of skepticism yet again reviving the debate that XRP is not critical to the operations of the Ripple payment network.
In the past 24-hours, Ripple (XRP) gradually depreciated from around 0.56 US dollars to 0.52 US dollars as of now, concluding the day’s trade volumes to about 877 million US dollars. The digital asset is extremely active on one of Japan’s famous cryptocurrency exchange, Bitbank, where more than 124 million US dollars’ worth of trading is located, against the Japanese yen.
Currently, Ripple (XRP)is standing at the third position in the list of most significant virtual currencies regarding Market Cap. At the time of writing, CoinMarketCap reports that Ripple (XRP) is trading at about 0.519 US dollars (-2.27 percent) with a market cap of 20.7 billion US dollars.
According to Binance, today’s high for Ripple’s default cryptocurrency, XRP, was at 0.57107 US dollars while its day’s low was at about 0.51 US dollars (XRP/USD Pair). Still, on the Binance platform, XRP’s performance is up by 0.15 percent from last week. Currently, Binance is among the leading crypto exchanges in the world that are assisting XRP in replacing Bitcoin in gaining the interest of Japanese traders and investors.
Ripple (XRP) highest rated virtual coin on Binance
Ripple’s XRP has been nominated as the best virtual money to send and receive funds between exchanges by users, thanks to the speed and cost of transactions related to the virtual currency.
As you might know by now, Ripple (XRP) can settle cross-border settlements in less than 4 seconds with fees running up to about 0.00001 XRP’s per transaction. Considering that Ripple’s default currency, XRP is a settlement and liquidity digital asset, it can be used for settlements of unrelated currencies such as commodities and fiat currencies.
Binance Ratings have availed the information after the exchange incorporated the XRP/USD pair on their platform.
Other digital currencies that were competing against Ripple (XRP) are the likes of Bitcoin, Cardano, Ethereum, Litecoin, Zcash among other cryptocurrencies.
On the ratings, Ethereum and Cardano managed to garner 4.5 stars out of 5 stars while Bitcoin received 4 out of 5. AdToken was the least voted currency with two stars out of five. AdToken is a virtual currency of the AdChain project that incorporates a sequence of interoperable open protocols based on the public Ethereum blockchain.
Brief Ripple Profile
Ripple’ XRP is undeniably one of the most significant digital assets in the crypto market today. Launched on 2ndFebruary 2013, XRP has its total supply of digital coinage standing at about 100 billion coins with its circulating supply believed to be over 39 billion coins.
As stated earlier, XRP’s market capitalization stands just above 20 billion US dollars currently, with each coin exchanging at 0.519 US dollars. It is only Bitcoin and Ethereum that beats Ripple in the race of being the most relevant cryptocurrency in the market and with its introduction into the Binance platform and its high rankings by users there; only positive outcomes can be expected.
Ripple’s XRP price analysis: XRP/USD faces potential problematic barrier at $0.2800
- Ripple’s XRP price late Thursday is trading in positive territory by some 2.60%.
- Heavy resistance can be observed heading into the psychological $0.3000 territory.
Ripple’s XRP on Thursday is trading in minor positive territory by some 2.60%.XRP/USD is attempting to recover some of the deep losses encountered recently.
The price managed to receive decent support within a buying area of $0.2600-0.2550, a proven territory to attract buyers. Failure of the noted holding could have sent the price down to the psychological $0.2000 mark.
To the upside in terms of resistance, a descending trend line can be observed, which is tracking at $0.2800. Rejections have been seen here through the month so far, as observed via the 4-hour chart view.
XRP/USD 4-hour chart
Xendpay Partners With Ripple to Enter New Market
Based on a recent report, distributed ledger company—Ripple, now has a new client on its global settlements platform, RippleNet.
Xendpay Now Live on the RippleNet
Xendpay, a UK-based remittance startup recently made it known that it has forged a partnership with Ripple which allows the firm to enter new markets like Malaysia, Thailand, Vietnam, Bangladesh, and the Philippines.
Also, RippleNet released a publication which revealed that the platform now supports smaller currencies which were previously not accessible to the remittance company. Such currencies include the Bangladeshi Taka or Malaysian Ringgit. Before, to transact using such currencies, Xendpay had to form partnerships local banks.
Bhavin Vaghela, the head of product innovation at Xendpay said that:
“Previously we had to create a whole business case for each partner,”
“RippleNet reduces that complication and friction,” he added.
Furthermore, Vaghela stated that a larger percentage of Xendpay’s clientele include migrants who send remittances back home to contribute to the education, housing, medical, and utility bills of their family members.
In addition, Ripple announced earlier this year that it will be adding “an average of two to three new financial institutions to RippleNet each week.” RippleNet also surpassed 200 clients globally earlier this year.
Ripple’s SVP of Global Operations, Eric van Miltenburg said that:
“In January, Ripple surpassed 200 customers on RippleNet. The company is experiencing rapid customer growth across all markets and is launching in Brazil in response to high customer demand in South America. We are fortunate to have Luiz on board to expand our presence in the region and help our customers address the challenges of cross-border payments.”
Luiz Antonio Sacco, the veteran fintech entrepreneur and executive which Ripple recently hired as the managing director said that:
“We believe that academic institutions will play a key role in driving the blockchain industry forward. USP and FGV are innovative, forward-thinking institutions that are investing in blockchain research to explore new use cases and help prepare students for future jobs in this space,”
Take Note: How To Use XRP To Fight Off Spam
Ripple XRP, most famous as a remittance payments token, a cross border transaction facilitator, or to others, a security. Did you know though, that XRP can also have a hand in helping you to find spam?
Here’s a thought.
Now XRP is not a spam filter, nor can it actually measure, in any way, the sorts of emails that are entering your inbox, it is however down to the geniusly efficient design of XRP that means it could be used within an incentive platform that stops spam emails from being sent in the first place.
What is Spam?
Something posing as mail (or Spam) is the term used to describe unwanted email messages that are often designed to expose you to free advertising and or malicious scams, such as phishing emails. Spam is annoying, yet it’s now a part of our integrated lives, thanks to the power of the internet. It’s easy to set up spam filters to reduce the amount of spam that enters your inbox, but even so, these filters don’t work all of the time. It is normal to receive spam, but that doesn’t mean we should have to put up with it.
According to Ethereum World News, a user on Reddit has devised a very clever plan to utilise XRP tokens in order to prevent spam in the first place. They propose:
“A bold move that will once and for all stamp out spammers introducing a fee for every mail sent and the need for seeding every KYC approved email linked XRP wallet with 20 XRPs limiting the number of accounts a potential spammer can open. KYC, he says will increase the advertising value of the email account and is what prevents people from being able to set up what you call ghost email accounts.”
How will this work?
It sounds pretty complicated and obviously, XRP wasn’t designed for this, so some adaptation would have to take place. Even so though, the mystery contributor believes the best approach would be to implement this in stages:
“The pilot phase would strictly allow Ripple to Ripple communication. After that and if the initial test phase shows result, Ripple can negotiate with other email providers. Upon agreeing, users will create accounts embedded with Ripple wallets where use is dependent on amount of XRP in those wallets. From there and if interested, other users can opt-in, embed their email with an XRP wallet allowing them to receive paid emails from advertisers at their defined rates. They can also use the same email to send payments as if they were an XRP wallet.”
This creates a culture of XRP sharing and collaboration that makes spam emails costly and worthless.
So, as it stands, XRP can’t be used to stop spam, however if this is picked up by the right people, who knows what the next corporate Ripple tool might be? xEmail, xSpam? Who knows.